Real estate investors are notorious for wearing many hats and juggling plenty of moving parts in their businesses. Between managing leads, touring properties, and gathering resources for investments, real estate investors need a way to manage all aspects of their business.
Luckily, there are plenty of tools available to do just that. Customer relationship management (CRM) software has transformed the way real estate investors do business, and this article breaks down three of the best CRMs for real estate investors today.
Why Real Estate Investors Need CRMs
Using a reliable CRM for real estate investors is becoming an essential part of any real estate business. In this highly competitive industry, investors need to use technology tools to stay ahead of the competition and survive through various economic cycles.
Here are some more reasons why real estate investors need CRMs:
Overcoming Challenges in Real Estate Investing
Real estate investors come across many different challenges that require CRM solutions. They deal with a broad range of property types, clients, and transactions that can be overwhelming without a CRM in place.
Investors also face long sales cycles and need to nurture leads over an extended period of time. This requires a structured approach to lead management and follow-ups, which can be a logistical nightmare without CRM software.
Additionally, real estate investors operate in a relationship-driven industry and rely heavily on networking and client relationships. Keeping track of these relationships manually can be difficult and lead to missed opportunities and a lack of organization in your real estate investment business.
Streamlining Operations
CRM systems can streamline business operations in several important ways.
First, they provide a reliable database to store and organize client and property information, making it easily accessible and searchable for everyone involved in the business. This eliminates the need for scattered spreadsheets or paper records and minimizes the risk of losing important information.
CRM software also automates lead management and allows investors to categorize leads, set reminders for follow-ups, and track the progress of each lead through the sales funnel. The automation features of CRMs ensures that no potential deal falls through the cracks and boosts your revenue.
Finally, CRM systems have features where they integrate with tools like email marketing software and digital marketing tools to simplify communication and marketing efforts.
Additional Benefits of a CRM for Real Estate Investors
The benefits of using a CRM for real estate investing are far-reaching and impossible to cover in just one article. Here are just a few additional benefits:
- Improved Communication: CRMs facilitate better communication with leads and clients through features like automated email campaigns, templates, and integration with communication tools. This helps maintain consistent interactions with everyone involved in the business.
- Task and Workflow Automation: With real estate CRMs, you can automate repetitive tasks like sending follow-up emails and scheduling appointments. Using automation helps reduce manual work and improve operational efficiency.
- Data Insights: CRMs provide valuable insights into your business by tracking interactions, conversion rates, and lead sources. You can use this data to make informed decisions and improve your investment strategies over time.
- Document Management: Investors can now store and manage important documents like contracts and client information within the CRM. Document management features make it easy to reference important documents when you need them.
- Scalability: As your real estate investment business grows, most CRMs scale with you. You can add more users, expand features, and adapt the system to the needs of your business.
Best CRM for Real Estate Investors
Now that you understand the importance of CRMs when running a real estate investing business, let’s get into the best CRMs for real estate investors.
#1 – RESimpli
First up is RESimpli, which is a comprehensive real estate CRM software designed to streamline data organization and automate your marketing efforts.
Founded by Sharad Mehta, RESimpli aims to facilitate deal generation and track crucial information needed for busy real estate investors.
RESimpli comes ready with built-in features like SMS marketing, drip campaigns, and additional marketing tools to grow a successful real estate business. They also have an experienced support team and help center to assist users getting set up on the platform.
Pricing
RESimpli has three pricing packages to choose from, which all come with a free 14-day free trial, free video courses, and unlimited onboarding with a client specialist.
- Basic Plan – $99 per month
- Pro Plan – $299 per month
- Enterprise Plan – $749 per month
RESimpli Key Features
- CRM: Upload your contacts via CSV file or manually to RESimpli in order to start marketing campaigns and correspondence with leads.
- Built-In Phone System (RESimpli Dialer): RESimpli allows you to automate messaging via SMS, emails, calls, and ringless voicemails with customizable drip campaigns.
- List Stacking: Easily upload and organize lists in one place with an integrated dialer for prospecting.
- Skip Tracing: Gather missing contact details and link them to your database and marketing campaigns with RESimpli’s skip tracing features.
- Email Drip Automation: RESimpli’s email drip campaign feature lets you run follow-up email or drip email campaigns to improve conversions and engagement with leads.
- Direct Mail Marketing: Utilize over 90 templates for direct mailouts and tap into existing client lists while avoiding duplicate leads.
- Driving for Dollars: Track routes, save property information, upload photos, and send direct mailouts integrated into the CRM.
The Verdict
RESimpli is a great choice for real estate investors looking for an all-in-one comprehensive CRM and easy-to-use investor tools for lead generation and marketing.
The built-in features of the platform and its affordable pricing continue to make RESimpli one of the most popular CRMs for real estate investors.
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#2 – REISift
REISift is a data management system designed for real estate investors, agents, and wholesalers to close more deals and expand their real estate businesses.
Established in 2019 as a private firm and headquartered in Florida, REISift currently operates with a team of just ten employees and software developers. The platform is becoming more popular among investors for its myriad of features and benefits.
REISift Software Features
As with RESimpli and others on this list, REISift functions as a real estate CRM and data management software. Its CRM, known as “Siftline,” automates daily tasks, streamlines communication, and enhances marketing efforts.
Another key feature of REISift is its vacancy check tools. The platform cross-references user records with USPS databases to identify vacant or occupied properties. This can be particularly useful for investors and wholesalers targeting these types of homes.
Additionally, REISift’s list stacking features allow users to upload and search lists using multiple tags like absentee, code violations, probate, foreclosure, and tax liens. This gives investors and wholesalers highly targeted lead generation and customizable marketing content.
REISift is less expensive than RESimpli on a monthly basis. The Essentials plan starts at $49 per month while the Professional plan is $149 per month. For larger real estate businesses, the Business plan is billed at $299 per month.
The Verdict
REISift is designed to maximize the value of existing lists and data, automate processes, and provide accurate property records for marketing.
With its list stacking and vacancy check features, it’s an excellent choice for those looking to secure off-market deals and for those seeking to become real estate sales and marketing experts.
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Salesforce
Salesforce is a powerful Customer Relationship Management (CRM) platform that can be customized for various industries, including real estate investing.
Here are some pros and cons of using Salesforce as a real estate investing CRM:
Pros of Salesforce
- Customization: Salesforce offers extensive customization options, allowing you to tailor the CRM to your specific real estate investing needs. You can create custom fields, objects, and workflows to match the needs of your business.
- Scalability: Salesforce can scale with your business as it grows. Whether you’re managing a small real estate portfolio or a large investment firm, Salesforce has the ability to grow with your business.
- Integration: Salesforce has a wide range of integrations and a vibrant app ecosystem. You can connect it with other tools and platforms you use in your real estate business, such as property listing websites, email marketing software, or financial tools.
- Reporting and Analytics: Salesforce provides robust reporting and analytics tools. You can track your leads, deals, and property data to find valuable insights for informed decision-making.
- Automation: Salesforce’s automation capabilities help streamline repetitive tasks. You can automate lead assignment, follow-up emails, and notifications to save time and ensure leads are nurtured effectively.
- Mobile Accessibility: Salesforce offers mobile apps so you can access CRM data and work on the go, something that’s crucial in the dynamic real estate investing industry.
- Security: Salesforce takes data security seriously and provides robust security features. This includes role-based access control and encryption to protect your sensitive real estate data.
Cons of Salesforce
Using Salesforce as a real estate CRM comes with drawbacks that potential users should consider.
First, cost is a significant concern for smaller real estate investors or startups. Expenses can quickly add up on Salesforce due to customization costs and ongoing maintenance expenses.
Another challenge is the learning curve that comes with using Salesforce. Setting up a customized CRM system requires technical expertise or the hiring of a Salesforce consultant. Additionally, you’ll have to train your team on how to use the Salesforce platform.
Data migration poses another hurdle for those transitioning from another CRM or spreadsheet-based system. The process of moving data to Salesforce can be costly and result in down-time for the business.
The Verdict
Salesforce can be a powerful tool for real estate investing due to its extensive customization options and scalability. However, its cost, complexity, and learning curve may be deterrents for some business owners.
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Final Thoughts
All three of the CRMs we went over are solid choices for any real estate investor. Business owners just getting started in real estate or those looking to scale their existing business will find that RESimpli and REISift are good options with flexible pricing plans.
On the other hand, real estate investors with high sales volume may want to consider migrating their business to Salesforce. The platform offers advanced customization options and integrations but comes with a higher price tag for the initial migration.
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